If you hate global warming, you got a big win this weekend with the Inflation Reduction Act. But if you care about the stock market and inflation, then you got a big loss with the Spend Our Way to Oblivion Act, or SOWOA. In real life, I may be an environmentalist first. But in this other life that says I want to help people make money, this one really is SOWOA — as it's called by my friend John Ellis, who runs the brilliant News Items newsletter. The bill is positively Orwellian.
US President Joe Biden speaks about the Inflation Reduction Act of 2022 in the State Dining Room of the White House in Washington, DC, on July 28, 2022.If you hate global warming, you got a big win this weekend with the Inflation Reduction Act.
And that tax is okay.
So paying legally owed taxes is really a tax? Your wrong so often nowadays
Trump tax cuts was stealing money from the people to fund the rich.
It’s a tax on the middle class
And its about time!
BULLSHIT
Yes but also on American taxpayers as a tax in the tragic form of inflation !
Thanks to Republican-in-Democrat-clothes, Krysten Sinema.
Its too late for the communist fascist fake news to complain about this administration. You covered up their lies and you aided and abided this administration. Now you will pay the price of the whirlwind you help create
To be passed to the consumer.
A tax on companies and shareholders that will be passed on to consumers in the form of higher prices. Get ready for near 20% annual inflation rate.
Good! They should pay!
How can some one sell this to the people and make it smell good, we have a problem inflation is here.
YUP. Boohoo that the richest people in America just got hit with a 1% excise tax on passive earnings.
got time to do that and can't tell the americans to go make smartphone, tesla, keystone XL pipeline etc! make americans make smartphone, tesla, keystone XL pipeline etc! closed all tariffs by closing all imports/exports cargo bay area!
These ppl got a big tax break under the last administration,some paid no taxes & prices still rose & r going hire.W/all the money they saved from no 2 low taxes & the hi prices Americans now face.they should have no prblm paying taxes.
I’m pretty sure that was made pretty clear from the get go 🤔
And indirectly, a tax on us. Corporations will undoubtably pass tax raises on the price of their goods. That price hike is really more inflation. The price hike, along with existing Democratic inflation, may mean less sales. Less sales, means Corporations will begin layoffs. Bad!
Really a tax on consumers - get your act togetherCramer
And tax on the American people. Watch those corporate taxes get past down to us in goods & services. Food, gas, clothing, and etc. if you think CPI is good this Wednesday and September. Wait for the October, that will show inflation moving higher.
Common sense says it is. Horrible timing on a bill like this that will hit everyone’s 401ks
Publishing Cramer is the definition of journalistic malpractice.
The only answer to corporate greed is competition. Countless companies cut features and shit on customers just to save a buck. It works because they have no competition. Let's promote and help new businesses and eliminate all monopolies. Split up TBTF corps of all types.
I rarely agree with you guys but this is the correct assessment
Thus, a tax on us all.
Anytime a business is taxed they just pass it on to the American people along with these new taxes in this fake bill
Well…yeah?
They need to pay their fair share!! They got their $1.7 TRILLION TAX CUT under Trump Why the whining?
The common man rushing to defend the lowest corporate tax rate in decades. While they book profits tax free everyone else has to fund the government. But, I hear, the corporations will just raise prices. Maybe, but you are already paying their unpaid tax bill for them.
Gee who do they pass that onto
I now understand why for decades our Education System led by the Teachers Union never made it a priority to implement the following course “ Finance” into our schools, keep people stupid about money so Dems can pass outrageously massive spending bills.
We gave huge tax breaks to companies and were told they would pass that on to their employees. They didn't. They had their chance to do the right thing. They didn't. So, now they need to start paying their fair share instead.
And this massive spending will just make inflation worse. Bidenflation BidenRecession
I can't believe Abraham Lincoln was sitting behind with his hand beneath his jaw while JOE was whopping the economy with a smile, using hands to tell us this is a tip of the iceberg IF DOUBT ME LOOK AT THE NEWS PHOTOGRAPH
Ok
You spelled “generational theft” wrong 😉
Yet will save companies tens of billions over the years.
And what makes you think that they will just accept that, they won't they will just pass it on to consumers.
Lies
BS
Fantastic, Cramer! Never thought you were for the elite class? I thought you wanted to even the playing field for working class Americans? I GUESS NOT!
When this goes bad, Biden will blame Putin.
Considering that these corporations are making record profits yet paying tax rates well below middle class Americans, that type of policy makes sense.
Great, it’s about time these entities pay their fair share as well.
Oh really!!!!
He is going to kill the economy in the hard-working blue-collard workers thanks and Biden administration for killing the American people but that is your plan
There Should Be A Tax on Companies and Shareholders!!! Why should Middle Class Americans carry the Tax Burden of the Wealthy? And don’t give me this crap of “it will get passed down in higher prices” BS! While corporations make record profits Americans suffer!
As it should be
Well duh
Good
That doesn't reduce inflation at all.
And everyone else.
Poor poor pitiful companies and shareholders... Get a grip.. About time ...
Oh sweet baby Jesus that awesome. Thanks for helping make that happen behind the scenes.
After the past couple of years I think it’s time for a Media Reduction Act. I’m ready for the next election and at this point I can care less what party wins as long as they’re able to operate without using buzz words and fear mongering like the current administration.
Jim: What did you think of the Clinton tax increase? A massive tax increase followed by a great economy and a balanced budget.
does anybody acknowledge Bidens momentous numbers on jobs an low unemployment nope , media , voters , economic gurus but they just complain about inflation , does the FED an Powell care NOPE they just want to raise interest rates to Mars just to be heroes but there villains
Democrats screwed us again! Wish people would wake up.
Why should companies who are getting corporate welfare, who refuse to pay health care, fair wages, who are using US infrastructure and destroying the planet 🌎 in the process, pay their fair share? Asking for a friend.
Good, corporations don’t pay enough as it is
Stop hating on the Democrats getting things done. That other party is only interested in overthrowing the U.S Government and Denying women the right to manage, decide, and control their own bodies. Go Dems!!!
Stop the Freebies!!!
GOOD!!!
Good idea….No more Free lunches for corporations who pay zero taxes on income as other Americans!!!
How is Cramer still on the air, let alone found credible by anyone after his whiff in 2008?
Tax capital like they do labor
and that’s long overdue like girl
Companies and shareholders who are raking in record profits!!
Long overdue accountability!! Thank you POTUS !!!
Earth to Jim. Have you looked at the wealth inequality in this country? The Fed has been printing money for years driving up valuations without anyone actually doing anything to earn those high values. Better than a tax on the average Joe that doesn't own stock.
FJB
That will be filtered down to the consumers.
Why do these democrats hate us so much what did we do to you? 😂
But what if I’m taxed more? I make $34,000 a year. If I’m taxed more the all Democrats need to pay me back before they move to North Korea!
And Middle Class Citizens
Welcome to layoffs, higher prices and businesses back overseas
'Inflation Reduction Act'..which does nothing inflation-wise and instead is a Democrat policy wish list.
That is correct. Glad we could clear that up.
I accidently liked this because I thought, good, then I remembered you guys think that is a bad thing...
So glad he isn’t for it, it means it will be successful.
Yes, a tax on companies earning billions, like Amazon, who pay no taxes. And, a !% tax on company share buybacks. What's the problem?
Good
If this is indeed true, and most things media analysts come up with are not, then it would be excellent and there should be more of it. Tax the rich more and more and more. Bring back tax rates from the 60's, when the standard of living for most of us was higher.
So?
CNBC DOESNT WANT YOU TO KNOW THAT WHEN COSTS GO UP FOR COMPANIES THE FIRST THING THAT THEY DO IS CUT COSTS BY LAYING OFF WORKERS.
Hey selfish man. pssst. listen closely. Our economy is not just the stock market. The tax comes from enforcement and catching thieves who stock values deserve a royal flush because their balance sheet come from CHEATING.
Who listens to Cramer?
about 70% of The Inflation Reduction Act is nothing, but more inflation
Which it will be passed in to the CONSUMERS. We never win. Only politicians win. Let start TERM served.
Finally agree with Cramer.
Biden confirmed with this he has no strategy, no intelligence, no will to change the situation. You know what to do next elections.
Wait, do I actually agree with you on something? Now… Take it one step further. Because there is increased tax on companies and shareholders, they will raise prices…
It’s about time companies start paying their fair share and stop living off the backs of Americans
So, I won’t pay anything
Does not make me want to invest.then.
The Bill doesn't factor in subsidies (would be a tax benefit if so), and they have done the estimations since 2013, thus it will affect all incomes only temporarily and by 2027 and onwards we may have a tax cut per year, and ~200 mega-corps may have to pass burden due to the 15%.
Yeah Jimmy needs to bone up on 'incidence of taxation'. They'll pass on some, maybe much to consumers. The more inelastic the demand, the more economic burden borne by consumers.
You know this is a great bill because all the money people that have been stealing for years are bitching about it.
Publicly available reports show those companies drowning in excess 💸 illicit profits, in fact they've been raking in billions for years at ordinary people's expense
We'll pass it on to the middle class. Those lemmings will pay it. They always do.
*snif*
Which in turn gets past on to the consumer
Well, how about go lobby that Congress & they start taxing the larva of the greedy rich? Because like a little over $50,000,000,000,000 trillion dollars has simply been handed 2 them without ever working a day 4 it?! Kitty’s all GET THE FO OUT OF HERE!
Interest on dividends? Up from 15%?
CNBC with Kiernan and Cramer are right-winger snooze fests
It also disqualifies truly electric cars using battery ingredients as a reason. And allows the current gas polluting manufactures to put a tiny battery in their car and call it a hybrid and get a $7500 rebate. This bill is disgusting.
A tax on the rich. Will noone think of the children?
🤷♂️👇🏻
1. China’s ongoing fake Covid protocols are choking supply chains. Move stuff to Philippines or Vietnam. 2. Dumdum screwed the oil market when he told the saudis to overproduce, then they slammed the brakes when Covid hit and storage wasn’t an option. 3. Stop printing free $$$
Good 😆
Good
Money spending will just create more inflation — thanks biden ! You just can’t stop fucking up
The era of privatized profits and socialized losses has led to tremendous wealth inequality . Time for everyone to pay something .
Boo fucking goo
Yep, raise taxes, companies will then pass those increased costs onto customers which will drive up prices even more. We call that inflation…..
As are the 40-hour work week, health & safety regulations and the laws against child labor.
You can't tax yourself out of RECESSION
JCOviedo6 And poor and middle class
Seems like it’s about time companies and shareholders paid their way like the rest of us.
Our leaders are incompetent. We have to vote for these crooked politicians servings the oligarchs instead of the people.
Shocked I tell ya
Why is paying taxes an issue? If Cramer and the billionaires in this country care about the economy and inflation they need to start chipping in more via taxes
Is there a problem with asking companies that benefit so greatly from America to pay their fair share? And how does it hurt their shareholders that they do?
Either print more money or tax those who have it. 🤷♂️
That won’t reduce inflation
Since companies don’t really do anything besides move money around I’d say this is a good thing
Cramer is way past retirement age.
We can handle it, Jim. Earth is on fire. It's about time the richest got audited and every company pays for the benefit of being in America. And Medicare should negotiate for the prices of drugs it pays for. No brainer!
But Jim, how would you pay for these things then?
Haven’t they had a really good for a long time?
“Historic deal made by the Democrats!!!”
and...? that's a good thing
jimcramer stop pushing democrats in office and we won't have this... you're bigger now ..if CNBC Fires you just start your own network. CNBC has agendas they follow the left..do be scared Cramerica
I don’t watch CNBC anymore because of Cramer. He’s taken over your network and has politicized it. Bloomberg is a far superior business channel.
Just like monopolies are a tax on everyone?
Yep, instead of addressing our spending we are going to try to tax our way out of an inflation sparked recession which never works
And all Americans!
This is the only thing I agree with Cramer on.
About GD time.!
Cramer will it bring inflation down ?
Jim feels bad that companies that make over a billion dollars won’t be able to use loopholes to pay zero tax ?
Democrats control the house, senate, and presidency and cannot pass legislation that removes Trump’s direct attack on blue states - the SALT cap. Fwd_Party how can you help? Blue states need your support.
Pelosi starts WWIII
Tough scene SenSchumer
Hope it includes Joe's S Corps.
Good
No shit, Sherlock.
Biting the hand that feeds bold move CNBC
It will increase inflation. And tax the middle class.
Everyone needs to pay their taxes 🇺🇸 & Mother Earth needs some love 🌍❤️
Why do we need to print $700b then?
So those who do not own stocks pay more than their fair share of taxes. Dividends get a tax break, the tax breaks are unfair to those who pay without loop holes. Many companies pay a 1-5% tax rate.
Good
And corporations will pass along those higher taxes with price increases. Price increases are easy in highly inflationary times.
You are finally right. And the tax money will be appropriated at there discretion not the act intention.
87,000 less workers for the private market
So that means it's the opposite.
You mean a cut into their buyback funds.
Cramer: “I’m not political” while undermining everything Biden does. Anyone watch his shows when Biden was trying to get big oil to lower the price? The price has come down significantly now what jimcramer ?
The inflation increase act